Russian real estate giant Cian has filed to redomicile itself in its home country.
The portal, despite being a massive presence in Russia, is technically based in Cyprus under the ownership of Cian plc.
A new company, Cian Technology, was registered in the Seychelles this year, and took a 70% stake in Cian as part of a technical restructuring via a securities exchange.
Cian Technology now wants to redomicile itself in the city of Kaliningrad and become an international public joint-stock company (IPJSC).
The firm hopes to conclude the process by October 2024.
News of the re-registration bumped up Cian shares on the Moscow exchange by 8.5%. The firm was previously listed on the New York Stock Exchange but was delisted as a consequence of sanctions against Russia when it invaded Ukraine in 2022.
Cian grew revenues by 22% in its Q2 filing released last week.
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